Oil, Gas & Mining
Petrofac Resources International (PRI) Ltd, an oil engineering, construction and equipment company, has sold its rights in three gas and oil exploration blocks it is bidding for in Syria to Stratic Energy Corporation, a Canada-based firm.
The building of a gas pipeline between the Syrian port of Banias and Cyprus will depend on the development of the regional gas grid which will eventually link Egypt to Syria, a Cyprus government source told Reuters.
The Syrian government is projecting to establish a national gas company which would be in charge of managing the country's developing gas sector.
Syria and Sudan signed on October 12 a technical and scientific cooperation agreement to jointly develop their oil, gas and other mineral resources.
Syria and Russia have agreed to build together a triple super phosphate plant, according to Teshreen.
Syria is to offer for tender the development of a major gas field which is expected to draw up to USD800 million in investments.
Shell Syria has appointed a new country chairman, Chris Haynes.
The Syrian Petroleum Company (SPC) has discovered a news gas field in the north-eastern part of the country with a capacity of 7 million cubic feet a day (cft/d) (200,000 cubic meters a day).
Croatia's INA has discovered a new gas field west of Palmyra, according to Ibrahim Haddad, minister of petroleum.
Iraqi oil is not transiting through Syria, said Mohammad Mahdi Saleh, Iraq minister of Trade, in an interview to Sharq al-Awsat.
The Arab Company for Gas, the firm that will manage the regional gas pipeline will have a paid-up capital of USD200 million and will be based in Beirut, according to Mena report.
The French oil giant, TotalFinaElf, is planning to bring down its presence in Syria following the delay of several major projects in the country.
Syria has signed a contract with Iraq to develop the al-Noor oil field located in western Iraq.
Syria will soon notify Lebanon of the discount it will be offered for the purchase of gas, after the two countries signed last month an agreement to sell Syrian gas to Lebanon at a discounted rate.
Syria's exports of crude oil have not yet been affected by Iraq's decision to halt its exports in support of the Palestinian resistance uprising, reported al-Quds.
2nd International Finance Markets Investment Forum 2011
Sheraton Hotel Aleppo
Tenders and Contracts
Damascus Chamber of Commerce